Profit and Loss Statement for a Mortgage in Florida

Last updated October 14, 2026

Some loan programs let self-employed borrowers qualify on a P&L instead of tax returns, and for eligible buyers some FHA options allow as little as 3.5% down. Not everyone will qualify. I'm Travis Penny, and I use P&L and 1099 programs through my Florida self employed loans for Florida business owners and contractors whose tax returns don't show what they really earn.

How a P&L loan works

You, or often your CPA or tax preparer, put together a profit and loss statement for your business. The lender uses it, usually with a couple months of bank statements, to work out your income. No tax returns needed.

1099 loans

If you're paid on 1099s, some programs qualify you on the 1099s themselves instead of your full tax return.

FAQ

Can I get a mortgage with just a P&L?

Often, yes. Travis Penny has Florida programs that qualify self-employed buyers on a P&L, usually alongside a few months of bank statements. Not everyone will qualify.

Does a P&L need to be prepared by a CPA?

Many programs want it prepared or signed by a CPA or licensed tax preparer. Some accept one you prepare yourself. Travis Penny will tell you what your Florida program needs.

Can I get an FHA loan with a P&L?

Yes, for eligible buyers. Travis Penny offers FHA loans in Florida for self-employed buyers qualified on a P&L, with as little as 3.5% down on a primary home. Not everyone will qualify.

Can I get an FHA loan without tax returns?

Yes. Eligible wage earners may qualify for an FHA loan with Travis Penny in Florida using a written verification of employment from their employer, with as little as 3.5% down on a primary home. Not everyone will qualify.

Can I get a mortgage with only 1099 income in Florida?

Yes. Travis Penny does 1099 mortgage loans in Florida that qualify contractors on their 1099s instead of full tax returns.

Send me your P&L and I'll tell you what it qualifies for. Text me at (207) 615-7770 or use the contact form.